News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
EUR/USD
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Oil - US Crude
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Wall Street
Bearish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Gold
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
GBP/USD
Mixed
USD/JPY
Mixed
More View more
Real Time News
  • Forex Update: As of 20:00, these are your best and worst performers based on the London trading schedule: 🇨🇦CAD: 0.48% 🇪🇺EUR: 0.45% 🇨🇭CHF: 0.32% 🇯🇵JPY: -0.06% 🇦🇺AUD: -0.27% 🇳🇿NZD: -0.40% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/0YPpZ9dwBY
  • USD/JPY Price Outlook: Dollar-Yen Undermined by Fiscal Stimulus Hopes Link to Analysis via @DailyFX: https://www.dailyfx.com/forex/market_alert/2020/10/20/usdjpy-usd-jpy-price-outlook-dollar-yen-undermined-by-stimulus-hopes.html $USDJPY $USD $JPY #FX #Forex #Trading https://t.co/yNss3yhgt7
  • It’s been relatively quiet in FX-land, but the USD did push below a big zone of support earlier today. Get your $USD currency pairs technical analysis from @JStanleyFX here:https://t.co/ZC8g3lVxoO https://t.co/lchSrr9hBO
  • Commodities Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Silver: 1.02% Gold: 0.15% Oil - US Crude: -1.06% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/SN5ZJQwiRu
  • White House Chief of Staff Mark Meadows: -Mnuchin and Pelosi made good progress on stimulus talks today -We still have a ways to go toward reaching a deal -Talks productive enough to continue again tomorrow -Trump admin offer currently stands at $1.88-trillion
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.81%, while traders in EUR/USD are at opposite extremes with 73.16%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/PUSjs4XLSS
  • US Treasury opposes extension of Federal Reserve's Municipal Lending Facility (MLF) -BBG $USD $SPX $XAU $RUT $DJI
  • Netflix 3Q earnings shows EPS at $1.74 vs expectations of $2.13 on revenue of $6.44 Bln vs expectations of $6.38 Bln. Not the greatest start for FAANG earnings
  • As of today, it is officially two weeks until the #2020Election with the final presidential debate coming up on October 22. Crazy to think how fast time flies.
  • Indices Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Wall Street: 0.01% US 500: -0.01% Germany 30: -0.19% FTSE 100: -0.28% France 40: -0.40% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/zxL5TzfUnp
Post-FOMC USD Decline Nearing Completion?

Post-FOMC USD Decline Nearing Completion?

2015-06-19 11:12:00
Christopher Vecchio, CFA, Senior Strategist
Share:

Talking Points:

- AUDUSD, EURUSD making false breakouts higher from triangles.

- USDJPY tests recent swing low and bounces above ¥123.00.

- See the June forex seasonality report.

A projected slower interest rate hike path by the Fed has weighed on the US Dollar the past two days. In March, the FOMC's dot plot suggested that 77-bps of rate hikes would be announced in 2015; the June update forecast only 57-bps of rate hikes. So with policymakers becoming less hawkish - there's the possibility of one- to-two rate hikes this year, as opposed to two-to-three expected just three-months ago - traders have removed any short-term bullish US Dollar trades that were contingent on a more aggressive Fed (say, expressing the possibility of a July rate hike).

The US Dollar decline on the back of shifting rate expectations may have run its course, with several USD-pairs reaching significant technical levels before turning back. Headed into the meeting, the implied probability of a rate hike in 2015 was only greater than 50% for December 2015; the market has effectively been pricing in only one rate hike occurring in 2015 anyway, before the FOMC released its updated view. In reality, the Fed is catching up to the market, as the market is continuously pricing and repricing information.

If anything, it seems the Fed is a touch behind the eight ball but seems to be following economic developments rather closely. Seeing as how the Fed has only recently caught up to the market's view that the Fed's tightening cycle will be flat due to the state of the economy - hikes will be small and gradual as the economy limps forward - the only potential catalyst for a stronger US Dollar will be stronger US economic data.

Unfortunately for today, there aren't any major US data releases on the calendar. However, next week there are many; and in the interim, several major USD-pairs are testing significant technical levels that could determine the viability of recent breakout attempts. See the above video for technical considerations in EURUSD, AUDUSD, GBPUSD, USDJPY, and the USDOLLAR Index.

Read more: EUR/USD Initially Moves Higher in Reaction to June FOMC Statement

--- Written by Christopher Vecchio, Currency Strategist

To contact Christopher Vecchio, e-mail cvecchio@dailyfx.com

Follow him on Twitter at @CVecchioFX

To be added to Christopher’s e-mail distribution list, please fill out this form

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES